Cabinet approved for consultation:

·         The General Fund Budget of £42.4m for 2021/22 detailed in Section 3

·         An increase in Council Tax of 1.99% with a further 1% for the Adult Social Care precept of the 3% available over 2 years

·         The capital programme as detailed in Section 6

·         The creation of a new Earmarked Reserve for Ash Dieback (£500k) as per para 3.5.9

·         The minimum reserve level be increased from £2m to £3m to reflect the changing risk profile.

Cabinet noted:

·         The advice from the Council’s Section 151 Officer in respect of the budget as set out in para 2.1.12

·         The Medium Term financial outlook and commits to taking action in 21/22 to address the deficit position

·         Representations to government on the unfair distribution of the Local Government Settlement and the resulting impact on Rutland residents

·         That the funding position may change when the NNDR (business rates) tax base and local government finance settlement is finalised

·         That additional revenue or capital expenditure may be incurred in 2021/22 funded through 2020/21 budget under spends to be carried forward via earmarked reserves. The use of reserves for budget carry forwards is not currently shown in the budget but will have no impact on the General Fund

·         The estimated deficit of c£186k on the Collection Fund as at 31 March 2021 (Section 4.2) of which £160k is the Rutland share

·         That Council will be considering the Treasury Management Strategy and Capital Investment Strategy separately